Forex Technical Analysis for 30.11.2015

November 30, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is still moving inside a very narrow trading range close to its lows. We think, today, the price may fall to reach 1.0500. Later (an alternative scenario), the pair may start a correction. According to the main scenario, the market rebounds from 1.0560 and then move towards 1.0300; it the main target of this descending wave.

GBP USD, “Great Britain Pound vs US Dollar”

Bering under pressure, Pound is moving downwards; the structure of this descending movement implies that it may be extended to reach 1.5000. Possibly, the price may test 1.5067 from below, reach a new low and complete this descending wave. After that, the instrument may form another correction to return to 1.5136 (at least). 

USD CHF, “US Dollar vs Swiss Franc”

Franc continues moving inside the uptrend. We think, today, the price may reach a new high at 1.0420 and then for a correction towards 1.0200 (at least). After that, the instrument may continue growing inside the uptrend to reach 1.0600.

USD JPY, “US Dollar vs Japanese Yen”

Yen is consolidating; the pair has formed triangle pattern. We think, today, the price may fall towards 121.85 to reach the target of this correction. After that, the pair may start forming the fifth wave with the target at 124.50.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar has almost reached the target of its correction. Possibly, the price may form another descending impulse to reach 0.7170. Later, in our opinion, the market may start another growth towards 0.7300.

USD RUB, “US Dollar vs Russian Ruble”

The market was opened with a gap up; being influenced by the oil prices decline, Russian Ruble has reached a new high and (alternative scenario) may extend this correction up to 67.42. After that, the instrument may fall to eliminate the gap at 66.00. Later, in our opinion, the market may extend this growth up to 68.60 and then fall to return to 64.00.

XAU USD, “Gold vs US Dollar”

Gold has broken its consolidation channel downwards. We think, today, the price may reach 1048.70 and then test 1064.00 from below. Later, in our opinion, the market may start another decline to reach 1141.00.

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